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\par }{\rtlch\fcs1 \af40 \ltrch\fcs0 \cf1\dbch\af40\insrsid9140971 \hich\af36\dbch\af40\loch\f36 Dr Ken Henry AC
\par }{\rtlch\fcs1 \af40 \ltrch\fcs0 \cf1\loch\af40\hich\af40\dbch\af40\insrsid9140971 \hich\af40\dbch\af40\loch\f40 }{\rtlch\fcs1 \af40 \ltrch\fcs0 \cf1\dbch\af40\insrsid9140971 \hich\af36\dbch\af40\loch\f36 Chair Aurstraia's Future Tax System Review
\par \hich\af36\dbch\af40\loch\f36 The Treasury
\par }{\rtlch\fcs1 \af40 \ltrch\fcs0 \cf1\loch\af40\hich\af40\dbch\af40\insrsid9140971 \hich\af40\dbch\af40\loch\f40 }{\rtlch\fcs1 \af40 \ltrch\fcs0 \cf1\dbch\af40\insrsid9140971 \hich\af36\dbch\af40\loch\f36 Langton Crescent
\par \hich\af36\dbch\af40\loch\f36 PARKES ACT 2000
\par }{\rtlch\fcs1 \af36 \ltrch\fcs0 \insrsid9140971
\par \hich\af36\dbch\af35\loch\f36 Dear Dr Henry
\par
\par \hich\af36\dbch\af35\loch\f36 We are making a submission to the retirement incomes system review. The review that has been published is clear to read with othe\hich\af36\dbch\af35\loch\f36 rs' submissions helping clarify our own thoughts.
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \insrsid9140971
\par \hich\af36\dbch\af35\loch\f36 As a couple, one of us works and the other has no income except for some dividends and interest. We believe that the non-working partner should be able to direct this income into superannuation via the
\hich\af36\dbch\af35\loch\f36 co-contribution. Why should a non-woring person be discriminated against especially as he has the desire to save.
\par
\par \hich\af36\dbch\af35\loch\f36 For us, the BIGGEST and I repeat the BIGGEST problem with the entire submission is that you keep restating deferring retirement and conti\hich\af36\dbch\af35\loch\f36
nuing to work. Well, get intouch with reality. I am still in the working system but should I leave at 63, I would never get back again. My partner owns a business and if he quit tomorrow, he would have no job. I am a literacy teacher of many years exp
\hich\af36\dbch\af35\loch\f36 e\hich\af36\dbch\af35\loch\f36
rience. I am almost recession proof. My partner is a computer programmer and expert software engineer but when he approaches the job market, no one will even talk to him let alone nterview him. So please, heads out of the clouds here. We are not dunc
\hich\af36\dbch\af35\loch\f36 e\hich\af36\dbch\af35\loch\f36 s and between us we have 5 university degrees. What about those over 60 who have no qualifications except experience?
\par
\par \hich\af36\dbch\af35\loch\f36 We agree that the pooling of risks in superannuation funds is important. We wanted to work less this year but it will not be possible f\hich\af36\dbch\af35\loch\f36
or at least two more years. We are very disappointed. We wanted to build a house, as we do not own one, but we have to wait now until when?
\par
\par \hich\af36\dbch\af35\loch\f36 The rules are complex and intrusive. Even with 5 university degrees, we often despair when we try to understand \hich\af36\dbch\af35\loch\f36 retirement issues and we have been investors now for 30 years.
\par
\par \hich\af36\dbch\af35\loch\f36 Lastly, we have been in and out of the work force. There were health issues. Then we decided to volunteer to assist families in distress in the outback. The work has been marvelous and the \hich\af36\dbch\af35\loch\f36
families have really appreciated us being with them, but we have forgone a lot of income. There was no SG, no co-contribution. And when one of us did earn some money, well, there was the tax. How about looking to volunteer work as really paid work.
\par
\par \hich\af36\dbch\af35\loch\f36 M\hich\af36\dbch\af35\loch\f36 aybe older people who CANNOT get jobs even with good health and qualifications could be encouraged to volunteer to help others with a system of incentivies.
\par \hich\af36\dbch\af35\loch\f36 These incentivies could include: Claim expenses aganst taxable income such as fuel to get to \hich\af36\dbch\af35\loch\f36
remote locations, vehicle and caravan deprecation expenses, and tax credits to be used at a later date when we decided to work for wages. Do not forget about that co-contribution for non-working folks.
\par
\par \hich\af36\dbch\af35\loch\f36 We would really like a government department calle\hich\af36\dbch\af35\loch\f36
d the Geriatric Department and we want it staffed entirely with those geriatircs who cannot get a job anywhere else. That would solve the employment problem rather quickly. And yes, please, get rid of the word 'retirement'. It is demoralising, disrespec
\hich\af36\dbch\af35\loch\f36 t\hich\af36\dbch\af35\loch\f36 ful, and redundant.
\par
\par \hich\af36\dbch\af35\loch\f36 Yours sincerely,
\par
\par \hich\af36\dbch\af35\loch\f36 Geoff and Ann Prudames [removed for privacy reasons]
\par }}